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oil prices Tag

Oil prices jumped by more than 2% yesterday in response to rising tensions within the vital Strait of Hormuz shipping route in the Middle East, but Morgan Stanley does not expect this to contribute to a higher long-term oil price.
The seizure of a British oil...

Saudi Arabia’s Energy Minister Khalid al-Falih has called for a ‘swift and decisive response to the threat of energy supply’ in the wake of attacks on two oil tankers travelling along a vital shipping route in the Gulf of Oman last week.
The attacks on Norwegian...

The price of Brent crude rose to US$81.42 a barrel last night – its highest level in four years – after OPEC leaders ruled out a production increase to buttress a tightening oil market.
With US sanctions on Iran’s oil market looming, president of commodity trading...

The price of Brent crude oil has reached highs of $80 per barrel for the second time this year as the East coast of the US braces itself for the arrival of Hurricane Florence.
More than a million people, as well as businesses, have already begun...

Oil prices experienced a dip in value of around US$1 yesterday, based on building speculation that OPEC could advise its members to lift production to make up for falling output from Venezuela and Iran.
Brent crude came down below the $80 a barrel mark to settle...

The International Energy Agency (IEA) has cut its forecast for oil demand growth in 2018 by 40,000 barrels to 1.4 million a day, as prices continue to ascend towards US$80 a barrel.
“The recent jump in oil prices will take its toll,” said the Paris-based agency...

Oil prices soared to US$75 a barrel based on expectations that the US will re-impose sanctions on major global producer Iran.
After visiting POTUS Donald Trump in Washington, French President Emmanuel Macron revealed he expects Trump to pull out of a breakthrough deal with Iran reached...

ExxonMobil (NYSE:XOM) has unveiled plans to more than double its earnings to US$31 billion by 2025 at today’s oil prices.
In its annual analyst meeting, the US-based oil giant outlined an aggressive growth programme underscored by major investments in new projects and upgrades to existing facilities.
Exxon...

Royal Dutch Shell (LSE:RDSA) has revealed its Q4 2017 profits more than doubled in the midst of a hectic period for global oil majors as news of fresh discoveries and new production targets broke elsewhere.
The Anglo-Dutch company’s earnings on a ‘current cost of supply’ (CCS)...

An agreement has been struck between members of OPEC and non-OPEC oil producers to extend output cuts until the end of 2018, as the market tries to clear a global glut of crude.
The deal, which has been expected for several months, was struck in Vienna...

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